During these lonely nights of wondering what will happen to America's vast indebtedness, I am sure that several of you have been wishing that Steve Jobs would sort out this mess.
It seems clear that he might be very direct, tell everyone just how it's going to be and even ensure that the economy doesn't merely function, but also looks good.
You might think I am not being serious. But consider that, thanks to my regular reading of the Financial Post, you might now learn that Apple has more cash than the U.S. government.
The U.S Treasury told the world on Thursday that it has $73.768 billion stashed away in various shoes and socks. Apple, on the other hand, in its latest and most fascinating quarterly earnings disgorgement, casually mentioned that it has $75.876 billion lying around.
I am not entirely sure how these figures compare with, for example, the Mafia. However, it seems that Google, which seems like the ultimate cash business, merely has $39.1 billion to spend on, um, new ideas about social networking.
Microsoft used to have more than that. At the end of 2010, its nest egg seems to have numbered $40.23 billion. But its $8.5 billion emotional commitment to Skype may have cut into that.
I am told that the U.S. government's figure is a little less descriptive than Apple's. After all, the government can just print some more dollars using old machines whenever it feels like it. Apple has to make new machines in order to add to its coffers.… Read more